Greg's Corner

Payment app scam preys on your kindness

Most of us have some form of banking or payment app on our phones. Whether they’re through our local bank or one of the many mobile payment services available, a lot of us make payments or transactions through these platforms. But how many of us really have these apps secured on our devices? You may have your phone locked using a PIN or fingerprint check, but what if someone was able to bypass your phone lock?

A woman in Charlotte, North Carolina recently found out the hard way what happens if you don’t secure your apps. She was working at home when a man knocked on her door and asked if he could use her phone. He claimed he had locked his possessions in his car and needed to text a relative. Being a kind person, she allowed the man to use her phone to get help. After using the phone, the man handed the phone back to the woman. That’s when she noticed the emails from Venmo. In that short amount of time, the man is said to have sent close to $1000 to himself through Venmo. The problem with many of these apps like Venmo is that once payment goes through, the victim of a scam can be blocked by the scammer making retrieval of your money almost impossible.

If you’re the type of person who tends to be a good Samaritan you should be commended for being willing to help others that you may not even know. There is still a way for you to lend someone your phone without exposing your financial apps. Most financial apps have some form of two-factor authentication available to you. A PIN or biometric scan like a fingerprint or face unlock can be enabled. This means that even if your phone is unlocked for someone to use, your financial apps will still be secure. If they don’t offer this service, you may want to consider using an app that does. While you may think that enacting these measures may make it more inconvenient for you, in a short time you’ll hardly even notice the small amount of extra time it takes you.